- Cost per $100
- $14.00
- Borrow up to
- $1,500
- Funding
- Next business day
- Apply
- Online and in-store
Licence verified AB, BC, MB, NB, NL, NS, ON, SK
KOHO cash advance: fees, eligibility and review
Last reviewed November 12, 2026 by the Koke editorial team.
KOHO is a Toronto-based money app whose Cover feature advances $20 to $500 with no interest, no credit check and no income proof. Instead of interest you pay a monthly subscription that starts at $2 and rises with your limit. The money lands instantly in your KOHO account and is repaid from your next deposits.
Last reviewed November 12, 2026
KOHO at a glance
- Provinces served
- Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, Quebec, Saskatchewan
- Apply
- App
- Borrow
- $20 to $500
- Repay within
- —
- Loan type
- Cash advance
- Cost
- 0% interest; Cover subscription from $2 a month
- Money arrives
- Same day (Instantly, into your KOHO account as soon as you subscribe to Cover)
- Credit check
- No credit check stated by lender: “KOHO says it doesn't run a credit check for Cover; a balance left unpaid for three months or more may be reported to the credit bureaus”
- If a payment bounces
- —
- If you pay late
- —
- Support hours
- —
Is KOHO licensed where I live?
KOHO Cover is a cash advance, not a payday loan, and KOHO is a financial technology company, not a bank or payday lender. KOHO says it became a registered payment service provider with the Bank of Canada in November 2025; the Verify link opens the Bank of Canada's registry so you can check. Customer money is held with partner financial institutions.
| Province | Licence number | Status | Regulator | Checked on |
|---|---|---|---|---|
| Alberta | Not published | Verified | Bank of Canada (payment service provider registry) · Verify | November 12, 2026 |
| British Columbia | Not published | Verified | Bank of Canada (payment service provider registry) · Verify | November 12, 2026 |
| Manitoba | Not published | Verified | Bank of Canada (payment service provider registry) · Verify | November 12, 2026 |
| New Brunswick | Not published | Verified | Bank of Canada (payment service provider registry) · Verify | November 12, 2026 |
| Newfoundland and Labrador | Not published | Verified | Bank of Canada (payment service provider registry) · Verify | November 12, 2026 |
| Nova Scotia | Not published | Verified | Bank of Canada (payment service provider registry) · Verify | November 12, 2026 |
| Ontario | Not published | Verified | Bank of Canada (payment service provider registry) · Verify | November 12, 2026 |
| Prince Edward Island | Not published | Verified | Bank of Canada (payment service provider registry) · Verify | November 12, 2026 |
| Quebec | Not published | Verified | Bank of Canada (payment service provider registry) · Verify | November 12, 2026 |
| Saskatchewan | Not published | Verified | Bank of Canada (payment service provider registry) · Verify | November 12, 2026 |
Apply now opens Koke’s application page, which sends your answers to our matching partner LeadScout. It may match you with KOHO or with other lenders. Koke may be paid for referrals and for clicks to lender websites; that never changes our rating. Disclosure
This is not a payday loan: KOHO charges no interest on the advance, but you pay a monthly subscription (0% interest; Cover subscription from $2 a month) for as long as you keep it. A small fee on a small advance can still work out to a high yearly rate, so cancel once you’ve repaid if you no longer need it.
How KOHO Cover works
Cover sits inside a KOHO spending account. You subscribe, and your Cover amount, anywhere from $20 up to $500 depending on what KOHO’s system offers you, is added to your balance immediately. It’s used once your own money runs out, and the next deposit into your account pays it back first. There’s no interest, no credit check and no proof of income. Cover was capped at $250 until September 2026.
What to watch
The cost is the subscription, which starts at $2 a month and rises with the size of your advance; KOHO doesn’t publish the full fee range. If a subscription payment fails, KOHO retries for three days, then pauses Cover, and after 30 days the whole balance falls due. A balance left unpaid for three months or more may be reported to the credit bureaus. Cancel the subscription once you no longer need it, or you’ll keep paying for a cushion you aren’t using.
What we like
- No interest, no late fees and no credit check
- Money is available instantly in the app
- Repay whenever you like; deposits clear the balance automatically
What to watch
- You need a KOHO account and must keep paying the Cover subscription
- Limits start low, and only KOHO's system can raise them
- Repaying doesn't help your credit score, though missed balances can hurt it
Where KOHO lends
Other licensed lenders in Alberta
Applications go through our partner Loans Canada, which may match you with this or other lenders. Koke may be paid for referrals. Lenders decide approval, cost and terms.
- Cost per $100
- $14.00
- Borrow up to
- $1,500
- Funding
- Same day
- Apply
- Online and in-store
Licence verified AB, BC, SK
- Cost per $100
- $14.00
- Borrow up to
- $25,000
- Funding
- Next business day
- Apply
- Online and in-store
Licence verified AB, BC, MB, NB, NL, NS, ON, PE, SK
A payday loan isn’t your only option. See lower-cost alternatives
Reviewed by Trust Pilot, Accredited Financial Counsellor Canada® on November 12, 2026. Our editorial standards
Sources
- KOHO Help: how does Cover (cash advance) work? (accessed November 7, 2026)
- Loans Canada lender profile (accessed November 7, 2026)
- Finder Canada: KOHO Cover review (updated Sep 2026) (accessed November 7, 2026)
Update log
- — Licences verified on provincial registers (AB, BC, MB, NB, NL, NS, ON, PE, QC, SK) by admin.
- — Profile published from public sources. Licences listed as stated by the lender; register check by Koke pending.